Services Term. Throughout the Services Term, Buyer or Seller, as determined pursuant to Article 8.2(d) shall be required to deliver to the other Party, and maintain with the other Party, Collateral in an amount equal to the Collateral Requirement as determined for such Party, if any, as of the most recent Date of Determination in accordance with this Section 8.1(a)(ii). Buyer will provide Notice weekly to Seller of the Collateral Requirement amount to be posted by Buyer or Seller, as applicable, in accordance with Section 8.2. Within three Business Days of such Notice (the “Posting Deadline”), the Posting Party shall post Collateral in satisfaction of the Collateral Requirement with the other Party and shall maintain such Collateral until the next Posting Deadline, as of which time the Secured Party shall return such Collateral previously posted that is in excess of the Posting Party’s then-current Collateral Requirement (except as provided pursuant to Section 8.1(a)(iii)). Collateral that is drawn upon by a Secured Party shall not relieve the Posting Party of the obligation to post in full, as of the next Posting Deadline, any and all Collateral required in satisfaction of its then-current Collateral Requirement, if any.
Appears in 5 contracts
Sources: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement